| Lowest Gas Prices in Chattanooga |
| Chattanooga Gas Prices provided by GasBuddy.com |
Average retail gasoline prices in Chattanooga have risen 8 cents per gallon in the past week, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga released Monday.
This compares with the national average that has increased 6.9 cents per gallon in the last week to $2.11 per gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Chattanooga during the past week, prices were 30.1 cents per gallon lower than the same day one year ago and are 5.5 cents per gallon higher than a month ago, Gasbuddy said.
The national average has increased 13.7 cents per gallon during the last month and stands 33 cents per gallon lower than this day one year ago.
"Gasoline prices increased last week in 49 of 50 states, thanks to a sudden jump in the price of crude oil tied to speculation of a change or freeze in oil output at [last] weekend's meeting in Doha, Qatar," said Patrick DeHaan, senior petroleum analyst for GasBuddy.
DeHaan said at the conclusion of the talks over the weekend no decision was made, which is not a surprise given the recent disagreements between major players Saudi Arabia and Iran.
"The lack of a clear vision to cut or even freeze crude oil production will likely lead to a sharp sell off in oil markets to start the week as global oil production continues to outpace demand," he said. "While typically we're used to seeing gasoline prices racing higher in the spring, the direct impact of this weekend's meeting could cause gasoline prices this week to reverse temporarily as oil markets react."
According to GasBuddy historical data, gasoline prices on Monday in Chattanooga have ranged widely over the last five years: $2.20 per gallon in 2015, $3.48 per gallon in 2014, $3.28 per gallon in 2013, $3.72 per gallon in 2012 and $3.68 per gallon in 2011.
Knoxville's price per gallon on Monday was $1.91, up 5.8 cents per gallon from last week's $1.86 per gallon.
GasBuddy, founded in 2000, was developed as an initiative to provide consumers access to local, current pricing.